New Jersey Property and Casualty (P&C) insurer to leverage Guidewire Cloud to increase business agility and deliver more value to agents, employees, and policyholders
Franklin Mutual Insurance Group, a P&C insurance provider for New Jersey residents and business owners, and Guidewire announced that Franklin Mutual Insurance has selected Guidewire Cloud to power its core operations and simplify its IT operations, adapt more quickly to changing market demands, and deliver more value to its policyholders.
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Franklin Mutual Insurance first deployed self-managed Guidewire product installations in 2020 for underwriting, policy administration, claims, billing, rating, and reinsurance management, enterprise-wide data management and analytics, and to offer a seamless omnichannel digital experience to its agents, customer service representatives, policyholders, and vendors. Franklin Mutual is planning to simultaneously migrate all the self-managed Guidewire products onto Guidewire Cloud for all lines of business. The company has chosen to move to Guidewire Cloud now to benefit from the cost savings and product improvements resulting from the upgrade, and then to be able to keep the platform up-to-date.
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“Migrating our self-managed Guidewire installations to Guidewire Cloud will be a more cost-effective way of using the technology,” said Steve Romanow, chief technology officer, Franklin Mutual Insurance. “By leveraging Guidewire Cloud, we will be able to take advantage of and stay current with Guidewire’s latest technology and innovation, while also enhancing our business continuity strategy and mitigating our security risk. We will be devoting less time to system maintenance so we can focus on offering our agents, employees, and policyholders a much better user experience to grow our business.”
“We thank Franklin Mutual Insurance for its continued trust in Guidewire and our platform and welcome the company to the Guidewire Cloud,” said John Mullen, president and chief revenue officer, Guidewire. “We are pleased by this vote of confidence in our cloud services capabilities to continue commitments to policyholders through dedication to a strong ethical culture, excellent customer service, consistency in the marketplace, and financial strength.”
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